Accreditation Status
Content
ACCA Education Recognition Status
An overview of statutory and education accreditation held by ACCA and ACCA’s qualifications.
Contents
INTRODUCTION 3 What is ‘education recognition’? 3 What are the benefits of ‘education recognition’? 3 How to use this document 3 About ‘education recognition’ information 3 ABOUT ACCA ACCA governance ACCA administrative details OUR QUALIFICATIONS ACCA Qualification Foundation-level qualifications ACCA qualifications structure ACCA REGULATORY STATUS ACCA EDUCATIONAL STATUS UK education recognition International education recognition ACCA qualifications’ framework recognition Mapping of ACCA qualifications’ intellectual levels with education framework levels APPENDICES Appendix 1 UK qualification equivalence Appendix 2 Foundation-level qualifications’ recognition on the QCF Appendix 3 Foundation-level qualifications’ recognition on the SCQF 4 4 4 5 5 5 5 6 7 7 8 8 8
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If you have a query on any aspect of the information contained here, please contact our global customer contact centre, ACCA Connect
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Introduction
What is ‘education recognition’? Education recognition refers to the acknowledgement of ACCA’s delivery and provision of qualifications at a defined standard or level by educational and regulatory authorities. To ensure ACCA’s qualifications provide maximum benefit and value to our members, ACCA seeks to attain and maintain recognition of ACCA and our qualifications. Recognition can be sought from regulators in both the relevant regulated professions and education environment. What are the benefits of ‘education recognition’? • Quality assurance ACCA’s recognised qualifications provide the assurance of independent oversight of the quality of our qualifications, and in some instances nationally recognised benchmarking of the qualifications’ levels. • Employer recognition Employers can be confident in our members’ level of ability, ensuring that they have the expertise they need. Members have access to job opportunities that are befitting the ACCA designation. • A portable qualification Having a qualification which is recognised by key regulatory and education authorities around the world provides a greater choice of locations for our members to work where all the benefits of the ACCA designation can be realised. Through Mutual Recognition Agreements with other professional bodies, ACCA members can also benefit from the professional mobility that comes through joint membership of both bodies. • Funding opportunities Recognition of ACCA’s qualifications with some governmental agencies may assist with access to public funding towards tuition. • Academic credit ACCA qualifications can be used to gain access to, and exemptions from, a number of other academic qualifications. Students who go on to study the Oxford Brookes University bachelor degree can also benefit by gaining a recognised UK undergraduate degree. How to use this document The information provided here details the recognition given to ACCA and our qualifications in both educational and regulatory environments. We have also provided a general introduction to ACCA and the qualifications that we award. The information can be used to inform employers, evaluation services and educational institutions of the current endorsement by third party regulators as a means to demonstrate the standard and quality of our qualifications. About ‘education recognition’ information The global education recognition environment is constantly evolving with developments in regulation continually impacting how qualifications are recognised. Information provided here is correct at November 2012 and where possible, links to external websites have been provided to verify the information. This document is subject to continual review with the most up to date version available online.
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About ACCA
ACCA (the Association of Chartered Certified Accountants) is a global professional accountancy body, and non-profit making organisation, with 154,000 members and 432,000 students worldwide, as at June 2012. ACCA offers first choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. ACCA works to achieve and promote the highest professional, ethical and governance standards and advance the public interest. ACCA delivers qualifications in partnership with many organisations. ACCA operates joint examination schemes in 18 countries and works closely with over 200 Approved Learning Providers for student tuition and over 7,900 Approved Employers of accountants and finance professionals. ACCA delivers services to students and members through a network of over 83 offices and other centres, aiming to support them throughout their careers. ACCA uses its expertise and experience to assist governments, donor agencies and professional bodies to develop the profession. ACCA aims to achieve and promote the highest professional, ethical and governance standards and advance the public interest. ACCA’s reputation is grounded in over 100 years of providing accounting and financial qualifications. Our long traditions are complemented by modern thinking, backed by a predominantly young, dynamic membership. ACCA offers four core qualifications: • Foundation-level qualifications – a suite of entry-level qualifications providing a comprehensive introduction to accountancy • ACCA Qualification – a professional qualification enabling members to reach the highest level in accountancy • a Bachelor of Science in Applied Accounting in partnership with Oxford Brookes University centred on the needs of employers for practical, professional accounting • an MBA in partnership with Oxford Brookes designed to broaden business understanding and enhance strategic decision making.
In keeping with ACCA’s commitment to lifelong learning, it has launched a range of further qualifications and a leading edge continuing professional development (CPD) scheme. These programmes are designed to suit the needs of accountants, finance-professionals and non-finance professionals with financial responsibility, at all stages of their careers. ACCA Governance ACCA Council is the elected governing body of ACCA and is responsible for determining ACCA’s strategic policy objectives and monitoring organisational performance in relation to the organisational budget. The Council is elected by its members on a one member, one vote basis. The Council acts as a trustee for the membership; as such, it is ultimately responsible for ACCA affairs and is accountable to the members. Its responsibilities to the UK Privy Council, under the Royal Charter granted by Her Majesty the Queen, and under statute, require it to act in the public interest. Council has the key role in ACCA’s affairs and Council members have a responsibility to act in the best interests of ACCA as a whole. The Council devises strategy for ACCA’s Executive Team, and identifies the key performance measures which will be used both to monitor the work to implement that policy and to develop future policy. ACCA’s Executive Team is responsible for the delivery of the strategy, and Council provide governance of the process and performance management. To help govern ACCA, and in line with best corporate governance practice, the council have a number of committees, including an audit committee, a remuneration committee, and a nominating committee. Council members are volunteers, and do not receive payment for their services to ACCA. They also adhere to a strict ‘Code of Practice for Council Members’. ACCA Administrative Details Name: Association of Chartered Certified Accountants Acronym: ACCA Main address: ACCA, 29 Lincoln’s Inn Fields, London, WC2A 3EE, United Kingdom Local office address: Our national offices | ACCA | ACCA Global
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Our qualifications
To qualify for membership of ACCA, students must complete the ACCA Qualification, consisting of 14 professional examinations, an ethics module and three years’ practical experience gained before, during or after the examinations. In line with ACCA’s statutory requirements, entry to the ACCA Qualification requires a UK university matriculation level qualification. ACCA also provides entry level qualifications. The foundation-level qualifications consist of awards, including certificates, diplomas and a Certified Accounting Technician (CAT) Qualification. The Diploma in Accounting and Business is equivalent in level to year one of a UK bachelor degree, and is suitable for entry and exemption to the ACCA Qualification. ACCA Qualification In addition to responding to the needs of its stakeholders, ACCA has designed a qualification which also embeds the global accounting education standards set by the International Federation of Accountants (IFAC). The ACCA Qualification is fully IFAC compliant. There is a strong focus on professional values, ethics and governance. These skills are essential as the profession moves towards strengthened codes of conduct, regulation and legislation with an increasing focus on
professionalism and ethics in accounting. They are examined at the highest level in the ACCA Qualification, and are a core element of students’ practical experience requirements. The ACCA Qualification has been designed to provide all the competences required of professional accountants and auditors. In accordance with modern practice, ACCA takes the view that employers demand that professional accountants and auditors apply a wide business and global perspective to their work. Foundation-level Qualifications The foundation-level qualifications include certificates, diplomas and a Certified Accounting Technician (CAT) Qualification. These flexible awards focus on the core skills of financial accounting and management accounting; and the wider role of the accountant in business at higher levels. The range of awards means employers can pick the level of qualification which most appropriately meets their business needs. In addition, it provides students with flexible entry points with certification awarded at each level, allowing students to tailor the awards, making them an attractive and relevant choice for employers.
ACCA Qualifications Structure
FOUNDATION FUNDAMENTALS PROFESSIONAL
FA1 Recording Financial Transactions MA1 Management Information introductory certificate in financial and management accounting
PROFESSIONAL
ETHICS
MODULE
FA2 Maintaining Financial Records MA2 Managing Costs and Finance INTERMEDIATE certificate in financial and management accounting
KNOWLEDGE F1 Accountant in Business F2 Management Accounting F3 Financial Accounting DIPLOMA IN ACCOUNTING AND BUSINESS
ESSENTIALS P1 Governance Risk and Ethics P2 Corporate Reporting P3 Business Analysis
FAB Accountant in Business FMA Management Accounting FFA Financial Accounting DIPLOMA IN ACCOUNTING AND BUSINESS
SKILLS F4 Corporate and Business Law F5 Performance Management F6 Taxation F7 Financial Reporting F8 Audit and Assurance F9 Financial Management ADVANCED DIPLOMA IN ACCOUNTING AND BUSINESS Research and Analysis and Key Skills Statement bsc in applied accounting awarded by oxford brookes university PROFESSIONAL ETHICS MODULE
OPTIONS (two to be completed) P4 Advanced Financial Management P5 Advanced Performance Management P6 Advanced Taxation P7 Advanced Audit and Assurance
ACCA QUALIFICaTION
All of the above plus two of the following: FTX Foundations in Taxation FFM Foundations in Financial Management FAU Foundations in Audit + 12 months relevant work experience
FOUNDATIONS IN PROFESSIONALISM is an online ethics module which can be completed before or after the exams but must be completed if you wish to receive certification for the award you have achieved THE PROFESSIONAL ETHICS MODULE is an online ethics module which must be completed before, at the same time, or soon after you become eligible to sit Paper P1 RELEVANT WORK EXPERIENCE can be completed before, at the same time, or after the exams
F O U N D AT I O N S I N PROFESSIONALISM MODULE
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ACCA regulatory status
• UK Government Department of Business, Innovation and Skills (BIS): BIS officially granted ACCA RQB and RSB status. RQB status means that the ACCA Qualification officially qualifies statutory auditors in the UK. The relevant text in relation to the level of the ACCA Qualification being at least bachelor degree level is within Schedule 11 of the Companies Act 2006. Number 8 – 1(b) states ‘and requiring a standard of attainment at least equivalent to that required to obtain a degree from a university or similar establishment in the United Kingdom’. The full Companies Act 2006 can be located at this address: www.legislation.gov.uk/ukpga/2006/46/ contents. The Professional Oversight Team, part of the UK Financial Reporting Council (FRC), reporting to the UK Government, and providing independent oversight of the auditing and accounting profession, audits ACCA’s quality assurance procedures and qualification syllabus and assessments annually. For further information on the Conduct Committee, please visit the following webpage: www.frc.org.uk/Our-Work/Conduct.aspx The statutory framework for the regulation of auditors is contained in the Council Directive 2006/43/EC (Eighth Company Law Directive – statutory audits). More information on the regulation of audit and the accountancy profession in the UK can be found at www.frc.org.uk/OurWork/Conduct/Professional-oversight.aspx. For further information on the EU 8th Company Law Directive, please access the full Directive here. As a consequence of this legislation, ACCA has statutory monitoring responsibilities in the following areas: Registered auditors: ACCA members who are responsible for audit work must hold a valid practising certificate and audit qualification. All firms, including sole proprietorships, must hold a firm’s auditing certificate to conduct audit work. Those individuals holding a practising certificate and audit qualification, as well as firms holding auditing certificates are subject to monitoring of their practices.
ACCA is a self-regulating professional membership body for chartered certified accountants globally. Our professional qualification is a membership requirement, which meets employer specifications for working in accountancy related roles, both regulated and unregulated. Further to a submission made to the UK Government department (at that time to the Department of Trade and Industry, now the Department of Business, Innovation and Skills), ACCA’s professional examinations are recognised in law to qualify company auditors, making ACCA a Recognised Qualifying Body (RQB). ACCA is also officially recognised by the UK Government as a Recognised Supervisory Body (RSB), responsible for regulating statutory auditors. According to the UK’s Companies Act 2006, Insolvency Act and Financial Services and Markets Act, only the accountancy bodies – ACCA, ICAEW, ICAI, ICAS and AAPA are able to authorise members to conduct the legally restricted works including audit, insolvency and investment business work in the United Kingdom and Republic of Ireland. In summary, part of ACCA’s official accreditation from regulatory bodies in the UK and globally, is as follows: • International Federation of Accountants (IFAC): ACCA is a founding member body of IFAC. ACCA follow the IFAC Compliance Program to meet the membership requirements. More information on the IFAC Compliance Program is available at www.ifac.org/ ComplianceProgram • UK Government Privy Council – Incorporated through Royal Charter – requirement for at least 75% of members to have first degree level standard qualification, thus the ACCA Qualification is recognised as being at least equivalent to UK bachelor degree. Please see the official Privy Council website for further information click here. • European Union (EU): Article 6 of the EU 8th Company Law Directive, which has been implemented in UK domestic law, states that statutory auditors must have ‘passed an examination of professional competence of university final or equivalent examination level’, which therefore applies to the level of the ACCA Qualification. The Directive provides for a General System for recognition of professional qualifications. The General System has been established with the purpose of enabling individuals to transfer their qualifications and skills between Member States. Please see refer to Admission to ACCA membership under the European Communities (Recognition of Professional Qualifications) Regulations (Directive 2005/36/EC) for further details on admission to ACCA membership under the terms of the European Communities (Recognition of Professional Qualifications) Regulations 2005.
Practising certificate: A member has to obtain three years’ training in an Approved Employer – Practising Certificate Development of which at least two years must be after admission to membership, to obtain a practising certificate. Investment business: In the UK, firms wishing to offer mainstream investment services are authorised and regulated by the FSA but ACCA regulates those firms undertaking only exempt regulated activities.
• Consultative Committee of Accountancy Bodies (CCAB): ACCA is a founding member of the CCAB in the UK. CCAB provides a forum in which matters affecting the profession as a whole can be discussed and co-ordinated and enables the profession to speak with a unified voice to government. Further details can be found at: www.ccab.org.uk
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ACCA educational status
and submit units and rules of combination, for accredited qualifications on the QCF. QCF criteria require the QCF qualification names to be formatted with the QCF level number and qualification type in the title. Details of Foundations in Accountancy qualifications’ recognition on the QCF can be found on the Register of Regulated Qualifications, provided by Ofqual. The guided learning hours for each qualification is provided here. The ACCA qualifications are also listed on the UK Learning Aims Reference Application (LARA) (formerly Learning Aim Database (LAD)). The Learning Aims Reference number is the reference number for accredited qualifications and funding in England. Please also refer to Appendix 2 for more information on Foundations in Accountancy qualifications on the QCF.
ACCA educational status refers to the endorsement of ACCA and our qualifications by bodies concerned with the educational value of our qualifications and the quality assurance mechanisms around their provision. ACCA has secured recognition by a number of key educational regulators. Official endorsement by education regulators is widely understood by employers, adding value to employer recognition of our qualifications. Education recognition also provides third party quality assurance giving our stakeholders the benefit of impartial scrutiny of our qualifications and ensuring that ACCA is conforming to current ‘best practise’ in qualification development and delivery. To support education recognition further, ACCA seeks framework recognition of our qualifications at specific and consistent levels of recognition. Please refer to Appendix 1, specifying these levels. A qualification framework is an appropriately authorised tool that clearly defines each and every qualification brought under it. It provides a hierarchy of qualifications where learning from a qualification is benchmarked to defined criteria. Frameworks can enable learners to make comparisons between different types of qualification, allowing them to plan their learning and progression. A qualification framework can be specific to one country or region with established framework recognition in one location having potential to support recognition in other countries or regions. UK Education Recognition • UK Border Agency UK Border Agency provides equivalence ratings for professional qualifications around the world, for the purpose of assigning points for immigration applications. The ACCA Qualification was assigned to the level of ‘taught Masters degree’. More information on the UK Border Agency points based system is available at: www.ukba.homeoffice.gov.uk/workingintheuk/ and the points based calculator can be found at www.ukba. homeoffice.gov.uk/pointscalculator • UK National Recognition Information Centre (NARIC) NARIC equates the ACCA Qualification to a UK taught Masters degree. NARIC is the National Agency, managed on behalf of the UK Government, responsible for providing information, advice and expert opinion on vocational, academic and professional skills and qualifications from over 180 countries worldwide. NARIC will verify ACCA Qualification equivalence on individual application to their Statement of Comparability service. • England, Wales and Northern Ireland regulator – Office of the Qualifications and Examinations Regulator (Ofqual) Ofqual, together with its partner regulators in Wales (Welsh Government) and Northern Ireland (CCEA), is responsible for regulation of the QCF (Qualifications and Credit Framework). ACCA is recognised as an ‘Awarding Organisation’ for the QCF, as well as being able to develop
• Scottish regulator – Scottish Qualifications Authority (SQA) SQA is the national accreditation and awarding body in Scotland who accredits vocational qualifications that are offered across Scotland, and approve awarding bodies that wish to award them. SQA has approved ACCA as an awarding body and has accredited qualifications included in the Foundations in Accountancy suite. The SCQF (Scottish Credit and Qualifications Framework) promotes lifelong learning in Scotland. The Foundations in Accountancy qualifications, through their recognition by SQA have been credited and leveled for placement on the SCQF. Please also refer to Appendix 3 for more information on Foundations in Accountancy qualifications on the SCQF. • Welsh regulator – Welsh Government In Wales, qualifications must be approved by the Welsh Government before they become a mainstream qualification that is recognised in Wales and, under certain conditions, eligible for funding. The DAQW (Database of Approved Qualifications in Wales) lists these qualifications, including those included in our Foundations in Accountancy suite of qualifications. • UK Universities UK Government approved providers of academic degree qualifications, UK universities, provide credit from their Masters degrees on the basis of the ACCA Qualification, and in some cases incorporate the Professional Level of the ACCA Qualification as the examined element of their Masters degree. UK universities are quality assured by the Quality Assurance Agency (QAA) in the UK. The Privy Council in the UK is responsible for approving an institution as competent to grant degrees. Oxford Brookes University in the UK externally assures the ACCA examinations for the award of its BSc (Hons) Applied Accounting, and credit from its MBA and MSc Accounting. To find out more about entry and exemptions from your chosen programme of study on the basis of qualifications awarded by ACCA, please refer to the qualification provider directly.
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ACCA educational status
ACCA has partnerships with a number of leading universities to provide further qualifications. For more information, please refer to the following page: www.accaglobal.com/en/discover/our-partners/ academic-partnerships.html
Authority of Ireland (NQAI) and the Irish Universities Quality Board (IUQB). The new Authority will assume all the functions of the four legacy bodies while also having responsibility for new or newly-statutory responsibilities in particular areas. • Malta regulator – Malta Qualifications Council (MQC) MQC has aligned the ACCA Qualification to Level 7 of the Malta Qualifications Framework indicating it is equivalent to a Maltese Masters degree. • Pakistan regulator – Higher Education Commission (HEC) HEC equated the ACCA Qualification to a Pakistan Masters in Commerce (MComm). • South African regulator – South African Qualifications Authority (SAQA) SAQA has aligned the ACCA Qualification to Level 8 of the South African National Qualifications Framework (NQF), indicating its position at postgraduate level. FASSET, the quality assuror of the providers on the SA NQF, regulate ACCA annually to ensure our continued provider status in South Africa. • Trinidad & Tobago regulator – Accreditation Council of Trinidad and Tobago (ACTT) ACCA is officially accredited as an ‘Awarding Body’ in Trinidad and Tobago by ACTT. ACCA Qualifications’ Framework Recognition A summary of the framework recognition of the ACCA Qualification and the Foundations in Accountancy suite of qualifications is available below. The ACCA Qualification is currently mapped to the postgraduate level of national qualification frameworks in the UK, Ireland, South Africa and Malta. These levels align to the level of postgraduate qualifications in the UK (Level 7). Please see the ‘Qualifications can cross boundaries’ leaflet for further information on comparing framework levels in the UK at the following link: www.ofqual.gov.uk/files/2009-03-qualifications-can-crossboundaries.pdf
International Education Recognition • European Qualifications Framework The European Qualifications Framework (EQF), agreed upon by the European institutions in 2008, recommends that member states relate their national qualifications systems to the EQF, so that all new qualifications issued from 2012 carry a reference to the relevant EQF level. The EQF acts as a translation device to make national qualifications more readable across Europe, promoting workers’ and learners’ mobility between countries and facilitating their lifelong learning. The EQF referencing tool can be found here. • Irish Government regulator – Quality and Qualifications Ireland (QQI) (previously Higher Education Training and Awards Council (HETAC)) HETAC aligned the ACCA Qualification to Level 9 of the Irish National Framework of Qualifications (NFQ), indicating it is equivalent to the examinations within an Irish Masters degree, which through articulation between the frameworks, also equates to UK Masters degree level. Please refer to the Professional Bodies section on page: www.nfq.ie/nfq/en/awards_in_the_framework. html#higher Quality and Qualifications Ireland was established on 6 November 2012 under the Qualifications and Quality Assurance (Education and Training) Act 2012. The new Authority is being created by an amalgamation of four bodies that have both awarding and quality assurance responsibilities: the Further Education and Training Awards Council (FETAC), the Higher Education and Training Awards Council (HETAC), the National Qualifications
Mapping of ACCA qualifications’ intellectual levels with education Framework Levels
ACCA QUALIFICATION LEVELS UK Framework Levels QCF SCQF *FHEQ International Framework Levels Irish NFQ South African NQF NA NA 5 NA 8 Malta NQF EQF ACCA FIVE INTELLECTUAL LEVELS
Introductory Certificate in Financial and Management Accounting Intermediate Certificate in Financial and Management Accounting Diploma in Accounting and Business / ACCA Papers F1–F3 / CAT Advanced Diploma in Accounting and Business / ACCA Papers F4–F9 ACCA Professional Level
2 3 4 NA NA
5 6 7 NA NA
NA NA 4 6 7
NA NA NA NA 9
NA NA NA NA 7
3 4 5 6 7
Knowledge Knowledge and comprehension Comprehension and application Application and analysis Synthesis and evaluation
* validated by Oxford Brookes University (regulated by QAA). NA – not applicable
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Appendix 1
UK Qualification Equivalence This table specifies the educational standard that each level of the ACCA Qualification and foundation-level qualifications equate to in the UK education system.
ACCA QUALIFICATION/LEVEL
ACCA Professional Level ACCA Advanced Diploma in Accounting and Business ACCA Diploma in Accounting and Business Intermediate Certificate in Financial and Management Accounting Introductory Certificate in Financial and Management Accounting
UK national QUALIFICATION LEVEL
Masters degree Bachelor degree Certificate of Higher Education GCE Advanced Level GCSE Level
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Appendix 2
Foundation-level qualifications’ recognition on the qcf ACCA is accredited as an ‘awarding organisation’ within the QCF regulatory structure in England, Wales and Northern Ireland. Each of the three levels of the foundation-level qualifications, Introductory, Intermediate, and Diploma and Specialist Award levels, are aligned to three distinct levels of the QCF, as detailed in the following table. * Students only need to successfully complete Foundations in Professionalism once, if they complete one or more qualifications from the foundation-level qualifications suite. ** Students are required to complete a practical experience requirement to qualify for CAT.
ACCA QUALIFICATION
ACCA PAPERS
QCF QUALIFICATION TITLE AND LEVEL
LEARNING AIM REFERENCE
UK NATIONAL QUALIFICATION BENCHMARK GCSE Grades A–C
Recording Financial Transactions (FA1) Introductory Certificate in Financial and Management Accounting Management Information (MA1) Foundations in Professionalism Module* Maintaining Financial Records (FA2) Intermediate Certificate in Financial and Management Accounting Maintaining Costs and Finances (MA2) Foundations in Professionalism Module* Financial Accounting (FFA/F3) Diploma in Accounting and Business Management Accounting (FMA/F2) Accountant in Business (FAB/F1) Foundations in Professionalism Module* Certified Accounting Technician (CAT) Complete Introductory Certificate, Intermediate Certificate, Diploma plus 2 of these 3 optional papers** Foundations in Professionalism Module* Foundations in Audit (FAU) Foundations in Taxation (FTX) Foundations in Financial Management (FFM) Foundations in Audit (FAU) Foundations in Professionalism Module* Certificates in Auditing, Taxation and Financial Management Foundations in Taxation (FTX) Foundations in Professionalism Module* Foundations in Financial Management (FFM) Foundations in Professionalism Module*
ACCA Level 2 Certificate in Financial and Management Accounting ACCA Level 3 Diploma in Financial and Management Accounting
501/2357/9
501/2364/6
GCE A Levels
ACCA Level 4 Diploma in Accounting and Business
501/2349/X
ACCA Level 4 Award in Audit ACCA Level 4 Certificate in Taxation ACCA Level 4 Award in Financial Management ACCA Level 4 Award in Audit ACCA Level 4 Certificate in Taxation ACCA Level 4 Award in Financial Management
501/2355/5 501/2358/0 501/2356/7 501/2355/5 Certificate of Higher Education
501/2358/0
501/2356/7
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Appendix 3
Foundation-level qualifications’ recognition on the sqcf ACCA is accredited as an ‘awarding body’ by SQA (Scottish Qualifications Authority) who have also accredited the foundationlevel qualifications, excluding CAT. Each of the three levels of the foundation-level qualifications, Introductory, Intermediate, and Diploma and Specialist Award levels, are aligned to three distinct levels of the SCQF, as detailed in the following table. * Students only need to successfully complete Foundations in Professionalism once, if they complete one or more qualifications from the foundation-level qualifications suite. ** Students are required to complete a practical experience requirement to qualify for CAT.
ACCA QUALIFICATION
ACCA PAPERS
SCQF QUALIFICATION TITLE AND LEVEL
group award number
scottish national QUALIFICATION BENCHMARK
Recording Financial Transactions (FA1) Introductory Certificate in Financial and Management Accounting Management Information (MA1) Foundations in Professionalism Module* Maintaining Financial Records (FA2) Intermediate Certificate in Financial and Management Accounting Maintaining Costs and Finances (MA2) Foundations in Professionalism Module* Financial Accounting (FFA/F3) Diploma in Accounting and Business Management Accounting (FMA/F2) Accountant in Business (FAB/F1) Foundations in Professionalism Module* Certified Accounting Technician (CAT) Complete Introductory Certificate, Intermediate Certificate, Diploma plus 2 of these 3 optional papers** Foundations in Audit (FAU) Foundations in Professionalism Module* Foundations in Taxation (FTX) Foundations in Financial Management (FFM) Foundations in Audit (FAU) Foundations in Professionalism Module* Certificates in Auditing, Taxation and Financial Management Foundations in Taxation (FTX) Foundations in Professionalism Module* Foundations in Financial Management (FFM) Foundations in Professionalism Module*
Introductory Certificate in Financial and Management Accounting SCQF Level 5 Intermediate Certificate in Financial and Management Accounting SCQF Level 6
R205 04
Credit Standard Grade
R206 04
Highers
Diploma in Accounting and Business SCQF Level 7
R207 04
Certificate in Auditing SCQF Level 7 Certificate in Taxation SCQF Level 7 Certificate in Financial Management SCQF Level 7 Certificate in Auditing SCQF Level 7 Certificate in Taxation SCQF Level 7 Certificate in Financial Management SCQF Level 7
R208 04 R209 04 R210 04 R208 04 Higher National Certificates
R209 04
R210 04
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The information contained in this publication is provided for general purposes only. While every effort has been made to ensure that the information is accurate and up to date at the time of going to press, ACCA accepts no responsibility for any loss which may arise from information contained in this publication. No part of this publication may be reproduced, in any format, without prior written permission of ACCA. © ACCA June 2012.
ACCA 29 Lincoln’s Inn Fields London WC2A 3EE United Kingdom +44 (0)20 7059 5000 +44 (0)20 7059 5151 www.accaglobal.com
An overview of statutory and education accreditation held by ACCA and ACCA’s qualifications.
Contents
INTRODUCTION 3 What is ‘education recognition’? 3 What are the benefits of ‘education recognition’? 3 How to use this document 3 About ‘education recognition’ information 3 ABOUT ACCA ACCA governance ACCA administrative details OUR QUALIFICATIONS ACCA Qualification Foundation-level qualifications ACCA qualifications structure ACCA REGULATORY STATUS ACCA EDUCATIONAL STATUS UK education recognition International education recognition ACCA qualifications’ framework recognition Mapping of ACCA qualifications’ intellectual levels with education framework levels APPENDICES Appendix 1 UK qualification equivalence Appendix 2 Foundation-level qualifications’ recognition on the QCF Appendix 3 Foundation-level qualifications’ recognition on the SCQF 4 4 4 5 5 5 5 6 7 7 8 8 8
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If you have a query on any aspect of the information contained here, please contact our global customer contact centre, ACCA Connect
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Introduction
What is ‘education recognition’? Education recognition refers to the acknowledgement of ACCA’s delivery and provision of qualifications at a defined standard or level by educational and regulatory authorities. To ensure ACCA’s qualifications provide maximum benefit and value to our members, ACCA seeks to attain and maintain recognition of ACCA and our qualifications. Recognition can be sought from regulators in both the relevant regulated professions and education environment. What are the benefits of ‘education recognition’? • Quality assurance ACCA’s recognised qualifications provide the assurance of independent oversight of the quality of our qualifications, and in some instances nationally recognised benchmarking of the qualifications’ levels. • Employer recognition Employers can be confident in our members’ level of ability, ensuring that they have the expertise they need. Members have access to job opportunities that are befitting the ACCA designation. • A portable qualification Having a qualification which is recognised by key regulatory and education authorities around the world provides a greater choice of locations for our members to work where all the benefits of the ACCA designation can be realised. Through Mutual Recognition Agreements with other professional bodies, ACCA members can also benefit from the professional mobility that comes through joint membership of both bodies. • Funding opportunities Recognition of ACCA’s qualifications with some governmental agencies may assist with access to public funding towards tuition. • Academic credit ACCA qualifications can be used to gain access to, and exemptions from, a number of other academic qualifications. Students who go on to study the Oxford Brookes University bachelor degree can also benefit by gaining a recognised UK undergraduate degree. How to use this document The information provided here details the recognition given to ACCA and our qualifications in both educational and regulatory environments. We have also provided a general introduction to ACCA and the qualifications that we award. The information can be used to inform employers, evaluation services and educational institutions of the current endorsement by third party regulators as a means to demonstrate the standard and quality of our qualifications. About ‘education recognition’ information The global education recognition environment is constantly evolving with developments in regulation continually impacting how qualifications are recognised. Information provided here is correct at November 2012 and where possible, links to external websites have been provided to verify the information. This document is subject to continual review with the most up to date version available online.
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About ACCA
ACCA (the Association of Chartered Certified Accountants) is a global professional accountancy body, and non-profit making organisation, with 154,000 members and 432,000 students worldwide, as at June 2012. ACCA offers first choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. ACCA works to achieve and promote the highest professional, ethical and governance standards and advance the public interest. ACCA delivers qualifications in partnership with many organisations. ACCA operates joint examination schemes in 18 countries and works closely with over 200 Approved Learning Providers for student tuition and over 7,900 Approved Employers of accountants and finance professionals. ACCA delivers services to students and members through a network of over 83 offices and other centres, aiming to support them throughout their careers. ACCA uses its expertise and experience to assist governments, donor agencies and professional bodies to develop the profession. ACCA aims to achieve and promote the highest professional, ethical and governance standards and advance the public interest. ACCA’s reputation is grounded in over 100 years of providing accounting and financial qualifications. Our long traditions are complemented by modern thinking, backed by a predominantly young, dynamic membership. ACCA offers four core qualifications: • Foundation-level qualifications – a suite of entry-level qualifications providing a comprehensive introduction to accountancy • ACCA Qualification – a professional qualification enabling members to reach the highest level in accountancy • a Bachelor of Science in Applied Accounting in partnership with Oxford Brookes University centred on the needs of employers for practical, professional accounting • an MBA in partnership with Oxford Brookes designed to broaden business understanding and enhance strategic decision making.
In keeping with ACCA’s commitment to lifelong learning, it has launched a range of further qualifications and a leading edge continuing professional development (CPD) scheme. These programmes are designed to suit the needs of accountants, finance-professionals and non-finance professionals with financial responsibility, at all stages of their careers. ACCA Governance ACCA Council is the elected governing body of ACCA and is responsible for determining ACCA’s strategic policy objectives and monitoring organisational performance in relation to the organisational budget. The Council is elected by its members on a one member, one vote basis. The Council acts as a trustee for the membership; as such, it is ultimately responsible for ACCA affairs and is accountable to the members. Its responsibilities to the UK Privy Council, under the Royal Charter granted by Her Majesty the Queen, and under statute, require it to act in the public interest. Council has the key role in ACCA’s affairs and Council members have a responsibility to act in the best interests of ACCA as a whole. The Council devises strategy for ACCA’s Executive Team, and identifies the key performance measures which will be used both to monitor the work to implement that policy and to develop future policy. ACCA’s Executive Team is responsible for the delivery of the strategy, and Council provide governance of the process and performance management. To help govern ACCA, and in line with best corporate governance practice, the council have a number of committees, including an audit committee, a remuneration committee, and a nominating committee. Council members are volunteers, and do not receive payment for their services to ACCA. They also adhere to a strict ‘Code of Practice for Council Members’. ACCA Administrative Details Name: Association of Chartered Certified Accountants Acronym: ACCA Main address: ACCA, 29 Lincoln’s Inn Fields, London, WC2A 3EE, United Kingdom Local office address: Our national offices | ACCA | ACCA Global
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Our qualifications
To qualify for membership of ACCA, students must complete the ACCA Qualification, consisting of 14 professional examinations, an ethics module and three years’ practical experience gained before, during or after the examinations. In line with ACCA’s statutory requirements, entry to the ACCA Qualification requires a UK university matriculation level qualification. ACCA also provides entry level qualifications. The foundation-level qualifications consist of awards, including certificates, diplomas and a Certified Accounting Technician (CAT) Qualification. The Diploma in Accounting and Business is equivalent in level to year one of a UK bachelor degree, and is suitable for entry and exemption to the ACCA Qualification. ACCA Qualification In addition to responding to the needs of its stakeholders, ACCA has designed a qualification which also embeds the global accounting education standards set by the International Federation of Accountants (IFAC). The ACCA Qualification is fully IFAC compliant. There is a strong focus on professional values, ethics and governance. These skills are essential as the profession moves towards strengthened codes of conduct, regulation and legislation with an increasing focus on
professionalism and ethics in accounting. They are examined at the highest level in the ACCA Qualification, and are a core element of students’ practical experience requirements. The ACCA Qualification has been designed to provide all the competences required of professional accountants and auditors. In accordance with modern practice, ACCA takes the view that employers demand that professional accountants and auditors apply a wide business and global perspective to their work. Foundation-level Qualifications The foundation-level qualifications include certificates, diplomas and a Certified Accounting Technician (CAT) Qualification. These flexible awards focus on the core skills of financial accounting and management accounting; and the wider role of the accountant in business at higher levels. The range of awards means employers can pick the level of qualification which most appropriately meets their business needs. In addition, it provides students with flexible entry points with certification awarded at each level, allowing students to tailor the awards, making them an attractive and relevant choice for employers.
ACCA Qualifications Structure
FOUNDATION FUNDAMENTALS PROFESSIONAL
FA1 Recording Financial Transactions MA1 Management Information introductory certificate in financial and management accounting
PROFESSIONAL
ETHICS
MODULE
FA2 Maintaining Financial Records MA2 Managing Costs and Finance INTERMEDIATE certificate in financial and management accounting
KNOWLEDGE F1 Accountant in Business F2 Management Accounting F3 Financial Accounting DIPLOMA IN ACCOUNTING AND BUSINESS
ESSENTIALS P1 Governance Risk and Ethics P2 Corporate Reporting P3 Business Analysis
FAB Accountant in Business FMA Management Accounting FFA Financial Accounting DIPLOMA IN ACCOUNTING AND BUSINESS
SKILLS F4 Corporate and Business Law F5 Performance Management F6 Taxation F7 Financial Reporting F8 Audit and Assurance F9 Financial Management ADVANCED DIPLOMA IN ACCOUNTING AND BUSINESS Research and Analysis and Key Skills Statement bsc in applied accounting awarded by oxford brookes university PROFESSIONAL ETHICS MODULE
OPTIONS (two to be completed) P4 Advanced Financial Management P5 Advanced Performance Management P6 Advanced Taxation P7 Advanced Audit and Assurance
ACCA QUALIFICaTION
All of the above plus two of the following: FTX Foundations in Taxation FFM Foundations in Financial Management FAU Foundations in Audit + 12 months relevant work experience
FOUNDATIONS IN PROFESSIONALISM is an online ethics module which can be completed before or after the exams but must be completed if you wish to receive certification for the award you have achieved THE PROFESSIONAL ETHICS MODULE is an online ethics module which must be completed before, at the same time, or soon after you become eligible to sit Paper P1 RELEVANT WORK EXPERIENCE can be completed before, at the same time, or after the exams
F O U N D AT I O N S I N PROFESSIONALISM MODULE
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ACCA regulatory status
• UK Government Department of Business, Innovation and Skills (BIS): BIS officially granted ACCA RQB and RSB status. RQB status means that the ACCA Qualification officially qualifies statutory auditors in the UK. The relevant text in relation to the level of the ACCA Qualification being at least bachelor degree level is within Schedule 11 of the Companies Act 2006. Number 8 – 1(b) states ‘and requiring a standard of attainment at least equivalent to that required to obtain a degree from a university or similar establishment in the United Kingdom’. The full Companies Act 2006 can be located at this address: www.legislation.gov.uk/ukpga/2006/46/ contents. The Professional Oversight Team, part of the UK Financial Reporting Council (FRC), reporting to the UK Government, and providing independent oversight of the auditing and accounting profession, audits ACCA’s quality assurance procedures and qualification syllabus and assessments annually. For further information on the Conduct Committee, please visit the following webpage: www.frc.org.uk/Our-Work/Conduct.aspx The statutory framework for the regulation of auditors is contained in the Council Directive 2006/43/EC (Eighth Company Law Directive – statutory audits). More information on the regulation of audit and the accountancy profession in the UK can be found at www.frc.org.uk/OurWork/Conduct/Professional-oversight.aspx. For further information on the EU 8th Company Law Directive, please access the full Directive here. As a consequence of this legislation, ACCA has statutory monitoring responsibilities in the following areas: Registered auditors: ACCA members who are responsible for audit work must hold a valid practising certificate and audit qualification. All firms, including sole proprietorships, must hold a firm’s auditing certificate to conduct audit work. Those individuals holding a practising certificate and audit qualification, as well as firms holding auditing certificates are subject to monitoring of their practices.
ACCA is a self-regulating professional membership body for chartered certified accountants globally. Our professional qualification is a membership requirement, which meets employer specifications for working in accountancy related roles, both regulated and unregulated. Further to a submission made to the UK Government department (at that time to the Department of Trade and Industry, now the Department of Business, Innovation and Skills), ACCA’s professional examinations are recognised in law to qualify company auditors, making ACCA a Recognised Qualifying Body (RQB). ACCA is also officially recognised by the UK Government as a Recognised Supervisory Body (RSB), responsible for regulating statutory auditors. According to the UK’s Companies Act 2006, Insolvency Act and Financial Services and Markets Act, only the accountancy bodies – ACCA, ICAEW, ICAI, ICAS and AAPA are able to authorise members to conduct the legally restricted works including audit, insolvency and investment business work in the United Kingdom and Republic of Ireland. In summary, part of ACCA’s official accreditation from regulatory bodies in the UK and globally, is as follows: • International Federation of Accountants (IFAC): ACCA is a founding member body of IFAC. ACCA follow the IFAC Compliance Program to meet the membership requirements. More information on the IFAC Compliance Program is available at www.ifac.org/ ComplianceProgram • UK Government Privy Council – Incorporated through Royal Charter – requirement for at least 75% of members to have first degree level standard qualification, thus the ACCA Qualification is recognised as being at least equivalent to UK bachelor degree. Please see the official Privy Council website for further information click here. • European Union (EU): Article 6 of the EU 8th Company Law Directive, which has been implemented in UK domestic law, states that statutory auditors must have ‘passed an examination of professional competence of university final or equivalent examination level’, which therefore applies to the level of the ACCA Qualification. The Directive provides for a General System for recognition of professional qualifications. The General System has been established with the purpose of enabling individuals to transfer their qualifications and skills between Member States. Please see refer to Admission to ACCA membership under the European Communities (Recognition of Professional Qualifications) Regulations (Directive 2005/36/EC) for further details on admission to ACCA membership under the terms of the European Communities (Recognition of Professional Qualifications) Regulations 2005.
Practising certificate: A member has to obtain three years’ training in an Approved Employer – Practising Certificate Development of which at least two years must be after admission to membership, to obtain a practising certificate. Investment business: In the UK, firms wishing to offer mainstream investment services are authorised and regulated by the FSA but ACCA regulates those firms undertaking only exempt regulated activities.
• Consultative Committee of Accountancy Bodies (CCAB): ACCA is a founding member of the CCAB in the UK. CCAB provides a forum in which matters affecting the profession as a whole can be discussed and co-ordinated and enables the profession to speak with a unified voice to government. Further details can be found at: www.ccab.org.uk
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ACCA educational status
and submit units and rules of combination, for accredited qualifications on the QCF. QCF criteria require the QCF qualification names to be formatted with the QCF level number and qualification type in the title. Details of Foundations in Accountancy qualifications’ recognition on the QCF can be found on the Register of Regulated Qualifications, provided by Ofqual. The guided learning hours for each qualification is provided here. The ACCA qualifications are also listed on the UK Learning Aims Reference Application (LARA) (formerly Learning Aim Database (LAD)). The Learning Aims Reference number is the reference number for accredited qualifications and funding in England. Please also refer to Appendix 2 for more information on Foundations in Accountancy qualifications on the QCF.
ACCA educational status refers to the endorsement of ACCA and our qualifications by bodies concerned with the educational value of our qualifications and the quality assurance mechanisms around their provision. ACCA has secured recognition by a number of key educational regulators. Official endorsement by education regulators is widely understood by employers, adding value to employer recognition of our qualifications. Education recognition also provides third party quality assurance giving our stakeholders the benefit of impartial scrutiny of our qualifications and ensuring that ACCA is conforming to current ‘best practise’ in qualification development and delivery. To support education recognition further, ACCA seeks framework recognition of our qualifications at specific and consistent levels of recognition. Please refer to Appendix 1, specifying these levels. A qualification framework is an appropriately authorised tool that clearly defines each and every qualification brought under it. It provides a hierarchy of qualifications where learning from a qualification is benchmarked to defined criteria. Frameworks can enable learners to make comparisons between different types of qualification, allowing them to plan their learning and progression. A qualification framework can be specific to one country or region with established framework recognition in one location having potential to support recognition in other countries or regions. UK Education Recognition • UK Border Agency UK Border Agency provides equivalence ratings for professional qualifications around the world, for the purpose of assigning points for immigration applications. The ACCA Qualification was assigned to the level of ‘taught Masters degree’. More information on the UK Border Agency points based system is available at: www.ukba.homeoffice.gov.uk/workingintheuk/ and the points based calculator can be found at www.ukba. homeoffice.gov.uk/pointscalculator • UK National Recognition Information Centre (NARIC) NARIC equates the ACCA Qualification to a UK taught Masters degree. NARIC is the National Agency, managed on behalf of the UK Government, responsible for providing information, advice and expert opinion on vocational, academic and professional skills and qualifications from over 180 countries worldwide. NARIC will verify ACCA Qualification equivalence on individual application to their Statement of Comparability service. • England, Wales and Northern Ireland regulator – Office of the Qualifications and Examinations Regulator (Ofqual) Ofqual, together with its partner regulators in Wales (Welsh Government) and Northern Ireland (CCEA), is responsible for regulation of the QCF (Qualifications and Credit Framework). ACCA is recognised as an ‘Awarding Organisation’ for the QCF, as well as being able to develop
• Scottish regulator – Scottish Qualifications Authority (SQA) SQA is the national accreditation and awarding body in Scotland who accredits vocational qualifications that are offered across Scotland, and approve awarding bodies that wish to award them. SQA has approved ACCA as an awarding body and has accredited qualifications included in the Foundations in Accountancy suite. The SCQF (Scottish Credit and Qualifications Framework) promotes lifelong learning in Scotland. The Foundations in Accountancy qualifications, through their recognition by SQA have been credited and leveled for placement on the SCQF. Please also refer to Appendix 3 for more information on Foundations in Accountancy qualifications on the SCQF. • Welsh regulator – Welsh Government In Wales, qualifications must be approved by the Welsh Government before they become a mainstream qualification that is recognised in Wales and, under certain conditions, eligible for funding. The DAQW (Database of Approved Qualifications in Wales) lists these qualifications, including those included in our Foundations in Accountancy suite of qualifications. • UK Universities UK Government approved providers of academic degree qualifications, UK universities, provide credit from their Masters degrees on the basis of the ACCA Qualification, and in some cases incorporate the Professional Level of the ACCA Qualification as the examined element of their Masters degree. UK universities are quality assured by the Quality Assurance Agency (QAA) in the UK. The Privy Council in the UK is responsible for approving an institution as competent to grant degrees. Oxford Brookes University in the UK externally assures the ACCA examinations for the award of its BSc (Hons) Applied Accounting, and credit from its MBA and MSc Accounting. To find out more about entry and exemptions from your chosen programme of study on the basis of qualifications awarded by ACCA, please refer to the qualification provider directly.
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ACCA educational status
ACCA has partnerships with a number of leading universities to provide further qualifications. For more information, please refer to the following page: www.accaglobal.com/en/discover/our-partners/ academic-partnerships.html
Authority of Ireland (NQAI) and the Irish Universities Quality Board (IUQB). The new Authority will assume all the functions of the four legacy bodies while also having responsibility for new or newly-statutory responsibilities in particular areas. • Malta regulator – Malta Qualifications Council (MQC) MQC has aligned the ACCA Qualification to Level 7 of the Malta Qualifications Framework indicating it is equivalent to a Maltese Masters degree. • Pakistan regulator – Higher Education Commission (HEC) HEC equated the ACCA Qualification to a Pakistan Masters in Commerce (MComm). • South African regulator – South African Qualifications Authority (SAQA) SAQA has aligned the ACCA Qualification to Level 8 of the South African National Qualifications Framework (NQF), indicating its position at postgraduate level. FASSET, the quality assuror of the providers on the SA NQF, regulate ACCA annually to ensure our continued provider status in South Africa. • Trinidad & Tobago regulator – Accreditation Council of Trinidad and Tobago (ACTT) ACCA is officially accredited as an ‘Awarding Body’ in Trinidad and Tobago by ACTT. ACCA Qualifications’ Framework Recognition A summary of the framework recognition of the ACCA Qualification and the Foundations in Accountancy suite of qualifications is available below. The ACCA Qualification is currently mapped to the postgraduate level of national qualification frameworks in the UK, Ireland, South Africa and Malta. These levels align to the level of postgraduate qualifications in the UK (Level 7). Please see the ‘Qualifications can cross boundaries’ leaflet for further information on comparing framework levels in the UK at the following link: www.ofqual.gov.uk/files/2009-03-qualifications-can-crossboundaries.pdf
International Education Recognition • European Qualifications Framework The European Qualifications Framework (EQF), agreed upon by the European institutions in 2008, recommends that member states relate their national qualifications systems to the EQF, so that all new qualifications issued from 2012 carry a reference to the relevant EQF level. The EQF acts as a translation device to make national qualifications more readable across Europe, promoting workers’ and learners’ mobility between countries and facilitating their lifelong learning. The EQF referencing tool can be found here. • Irish Government regulator – Quality and Qualifications Ireland (QQI) (previously Higher Education Training and Awards Council (HETAC)) HETAC aligned the ACCA Qualification to Level 9 of the Irish National Framework of Qualifications (NFQ), indicating it is equivalent to the examinations within an Irish Masters degree, which through articulation between the frameworks, also equates to UK Masters degree level. Please refer to the Professional Bodies section on page: www.nfq.ie/nfq/en/awards_in_the_framework. html#higher Quality and Qualifications Ireland was established on 6 November 2012 under the Qualifications and Quality Assurance (Education and Training) Act 2012. The new Authority is being created by an amalgamation of four bodies that have both awarding and quality assurance responsibilities: the Further Education and Training Awards Council (FETAC), the Higher Education and Training Awards Council (HETAC), the National Qualifications
Mapping of ACCA qualifications’ intellectual levels with education Framework Levels
ACCA QUALIFICATION LEVELS UK Framework Levels QCF SCQF *FHEQ International Framework Levels Irish NFQ South African NQF NA NA 5 NA 8 Malta NQF EQF ACCA FIVE INTELLECTUAL LEVELS
Introductory Certificate in Financial and Management Accounting Intermediate Certificate in Financial and Management Accounting Diploma in Accounting and Business / ACCA Papers F1–F3 / CAT Advanced Diploma in Accounting and Business / ACCA Papers F4–F9 ACCA Professional Level
2 3 4 NA NA
5 6 7 NA NA
NA NA 4 6 7
NA NA NA NA 9
NA NA NA NA 7
3 4 5 6 7
Knowledge Knowledge and comprehension Comprehension and application Application and analysis Synthesis and evaluation
* validated by Oxford Brookes University (regulated by QAA). NA – not applicable
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Appendix 1
UK Qualification Equivalence This table specifies the educational standard that each level of the ACCA Qualification and foundation-level qualifications equate to in the UK education system.
ACCA QUALIFICATION/LEVEL
ACCA Professional Level ACCA Advanced Diploma in Accounting and Business ACCA Diploma in Accounting and Business Intermediate Certificate in Financial and Management Accounting Introductory Certificate in Financial and Management Accounting
UK national QUALIFICATION LEVEL
Masters degree Bachelor degree Certificate of Higher Education GCE Advanced Level GCSE Level
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Appendix 2
Foundation-level qualifications’ recognition on the qcf ACCA is accredited as an ‘awarding organisation’ within the QCF regulatory structure in England, Wales and Northern Ireland. Each of the three levels of the foundation-level qualifications, Introductory, Intermediate, and Diploma and Specialist Award levels, are aligned to three distinct levels of the QCF, as detailed in the following table. * Students only need to successfully complete Foundations in Professionalism once, if they complete one or more qualifications from the foundation-level qualifications suite. ** Students are required to complete a practical experience requirement to qualify for CAT.
ACCA QUALIFICATION
ACCA PAPERS
QCF QUALIFICATION TITLE AND LEVEL
LEARNING AIM REFERENCE
UK NATIONAL QUALIFICATION BENCHMARK GCSE Grades A–C
Recording Financial Transactions (FA1) Introductory Certificate in Financial and Management Accounting Management Information (MA1) Foundations in Professionalism Module* Maintaining Financial Records (FA2) Intermediate Certificate in Financial and Management Accounting Maintaining Costs and Finances (MA2) Foundations in Professionalism Module* Financial Accounting (FFA/F3) Diploma in Accounting and Business Management Accounting (FMA/F2) Accountant in Business (FAB/F1) Foundations in Professionalism Module* Certified Accounting Technician (CAT) Complete Introductory Certificate, Intermediate Certificate, Diploma plus 2 of these 3 optional papers** Foundations in Professionalism Module* Foundations in Audit (FAU) Foundations in Taxation (FTX) Foundations in Financial Management (FFM) Foundations in Audit (FAU) Foundations in Professionalism Module* Certificates in Auditing, Taxation and Financial Management Foundations in Taxation (FTX) Foundations in Professionalism Module* Foundations in Financial Management (FFM) Foundations in Professionalism Module*
ACCA Level 2 Certificate in Financial and Management Accounting ACCA Level 3 Diploma in Financial and Management Accounting
501/2357/9
501/2364/6
GCE A Levels
ACCA Level 4 Diploma in Accounting and Business
501/2349/X
ACCA Level 4 Award in Audit ACCA Level 4 Certificate in Taxation ACCA Level 4 Award in Financial Management ACCA Level 4 Award in Audit ACCA Level 4 Certificate in Taxation ACCA Level 4 Award in Financial Management
501/2355/5 501/2358/0 501/2356/7 501/2355/5 Certificate of Higher Education
501/2358/0
501/2356/7
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Appendix 3
Foundation-level qualifications’ recognition on the sqcf ACCA is accredited as an ‘awarding body’ by SQA (Scottish Qualifications Authority) who have also accredited the foundationlevel qualifications, excluding CAT. Each of the three levels of the foundation-level qualifications, Introductory, Intermediate, and Diploma and Specialist Award levels, are aligned to three distinct levels of the SCQF, as detailed in the following table. * Students only need to successfully complete Foundations in Professionalism once, if they complete one or more qualifications from the foundation-level qualifications suite. ** Students are required to complete a practical experience requirement to qualify for CAT.
ACCA QUALIFICATION
ACCA PAPERS
SCQF QUALIFICATION TITLE AND LEVEL
group award number
scottish national QUALIFICATION BENCHMARK
Recording Financial Transactions (FA1) Introductory Certificate in Financial and Management Accounting Management Information (MA1) Foundations in Professionalism Module* Maintaining Financial Records (FA2) Intermediate Certificate in Financial and Management Accounting Maintaining Costs and Finances (MA2) Foundations in Professionalism Module* Financial Accounting (FFA/F3) Diploma in Accounting and Business Management Accounting (FMA/F2) Accountant in Business (FAB/F1) Foundations in Professionalism Module* Certified Accounting Technician (CAT) Complete Introductory Certificate, Intermediate Certificate, Diploma plus 2 of these 3 optional papers** Foundations in Audit (FAU) Foundations in Professionalism Module* Foundations in Taxation (FTX) Foundations in Financial Management (FFM) Foundations in Audit (FAU) Foundations in Professionalism Module* Certificates in Auditing, Taxation and Financial Management Foundations in Taxation (FTX) Foundations in Professionalism Module* Foundations in Financial Management (FFM) Foundations in Professionalism Module*
Introductory Certificate in Financial and Management Accounting SCQF Level 5 Intermediate Certificate in Financial and Management Accounting SCQF Level 6
R205 04
Credit Standard Grade
R206 04
Highers
Diploma in Accounting and Business SCQF Level 7
R207 04
Certificate in Auditing SCQF Level 7 Certificate in Taxation SCQF Level 7 Certificate in Financial Management SCQF Level 7 Certificate in Auditing SCQF Level 7 Certificate in Taxation SCQF Level 7 Certificate in Financial Management SCQF Level 7
R208 04 R209 04 R210 04 R208 04 Higher National Certificates
R209 04
R210 04
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The information contained in this publication is provided for general purposes only. While every effort has been made to ensure that the information is accurate and up to date at the time of going to press, ACCA accepts no responsibility for any loss which may arise from information contained in this publication. No part of this publication may be reproduced, in any format, without prior written permission of ACCA. © ACCA June 2012.
ACCA 29 Lincoln’s Inn Fields London WC2A 3EE United Kingdom +44 (0)20 7059 5000 +44 (0)20 7059 5151 www.accaglobal.com
